Steel and Aluminum Stocks Drop on Tariff Pullback Reports

Shares in major U.S. producers fall after reports the Trump administration may narrow import taxes on metals.

Published on Feb. 13, 2026

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Shares in U.S. steel and aluminum producers fell sharply on Friday after reports that the Trump administration is considering narrowing the scope of import tariffs on the metals. Major steelmakers like Nucor, Steel Dynamics, and Cleveland-Cliffs saw their stock prices decline 5% or more, while Century Aluminum dropped over 11% at one point.

Why it matters

The potential tariff pullback would be a significant policy shift that could impact the domestic steel and aluminum industries, which have benefited from the protectionist trade measures put in place by the Trump administration. This news highlights the ongoing tensions and uncertainty around U.S. trade policy.

The details

According to reports from the Financial Times and Bloomberg, the Trump administration is weighing whether to narrow the scope of the steel and aluminum import tariffs it imposed in 2018. The tariffs, which placed a 25% tax on steel imports and 10% on aluminum, were intended to protect U.S. producers from foreign competition. However, the potential changes suggest the administration may be looking to ease some of those restrictions.

  • The reports surfaced on Friday, February 13, 2026.

The players

Nucor

A major U.S. steel producer whose stock price fell over 5% on the tariff pullback reports.

Steel Dynamics

Another large U.S. steelmaker that saw its shares decline by 5% or more on Friday.

Cleveland-Cliffs

A U.S. steel company whose stock price also dropped significantly in response to the tariff news.

Century Aluminum

A U.S. aluminum producer whose shares fell over 11% at one point on Friday.

Trump administration

The current U.S. presidential administration that imposed the steel and aluminum import tariffs in 2018 and is now reportedly considering narrowing their scope.

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What’s next

The Trump administration has not yet officially announced any changes to the steel and aluminum tariffs, so the market and industry will be closely watching for any formal policy updates from the White House.

The takeaway

This news highlights the ongoing uncertainty and volatility around U.S. trade policy, which has significant implications for American manufacturing sectors like steel and aluminum. It remains to be seen whether the administration will follow through on narrowing the tariffs or maintain the current protectionist measures.